This is the 7189th most frequent Spanish word.
friedman
"Friedman" is not a Spanish word; it is a proper noun, typically a surname.
In this sentence, 'Friedman' refers to the surname of the famous economist, Milton Friedman.
Milton Friedman es conocido por sus teorías económicas.
Milton Friedman is known for his economic theories.
Here, 'Friedman' is part of the name of a restaurant, indicating a proper noun.
El restaurante Friedman's tiene excelentes platos caseros.
The restaurant Friedman's has excellent homemade dishes.
In this context, 'Friedman's ideas' refers to the theoretical contributions of Milton Friedman, using the possessive form.